Courtesy of Sheri Sperry

YOUR Solutions REALTOR®

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Cottonwood Arizona 86326 Homes For-Sale

Report 5/08/17

Cottonwood Market Report

April ’17 COTTONWOOD MARKET HOME ANALYSIS – First of all, these are real time charts that tell us “How the market is doing”. See the definition of Market Action Index above. Altos Research uses a complex algorithm to provide the MAI.

To analyze the Cottonwood AZ Market Report, An understanding of the city is helpful. It is about a half hour south of Sedona and located off highway 260 and the 89A. Cottonwoodis known for it’s big box shopping centers and is also known for the Verde Valley Medical Center. This is very appealing to many who need to be near medical facilities, doctors and other professionals. There are many medical offices around the hospital that provide all the services you might need. Go to LifeInSedona.com and select Cottonwood for more information. Old Town Cottonwood has been completely renovated in the last few years. It has the charm of the Old West and the modern flair of contemporary restaurants and boutique shopping. One of my favorite gourmet food stores is the Verde Valley Olive Oil Traders. You must go in there and taste the ultra fresh olive oils and balsamic vinegars they offer. This Old Town experience is another reason that the Cottonwood, Clarkdale and Cornville areas are thriving. Not only does this area bring tourism but the locals are fully invested in it’s success!

As a bedroom community of Sedona, Cottonwood can be very appealing to many people. Cottonwood also has big box stores such as Home Depot and Wal-Mart and a large Fry’s Supermarket.

Always use the median price to track trends. The median means that half the homes are higher and half are lower. If the highest priced home is well over a million dollars this will drive the average price of homes up substantially. Average price is not a good indicator of how the market is doing.

The listings above can change at any given time based on homes being added or subtracted from the Multiple Listing Service (MLS).

Supply and Demand – Cottonwood AZ 86326

How the Market is Doing

Median Price

The Median Price has maintained it’s trend on all but the top bracket. The top bracket added another million dollar home to increase the average. This is the first month we have had 5 homes over a million in the Cottonwood market.

Interactive chart below will continue to show current market information

Inventory

Inventory continues to trend downward. Spring is in full swing, there has been no increase in inventory. Also there is no current indication this will happen. All brackets have shown decreases in inventory. A total of 11 homes have been absorbed this month. This is pretty significant for our market area.

Interactive chart below will continue to show current market information

Days On Market (DoM)

The Days on Market for the bottom 3 quartiles are all converging. However the top quartile is trending higher. This is probably because there are 5 homes over a million dollars that are in that category. One new home was added and 4 homes have been on market since September and before that.

Most buyers willing to spend that amount for a home would normally be looking at Sedona for a home. However, for top bracket homes, I would target Cottonwood business owners and the medical community. Medical personnel must live within a certain radius of the hospital they work at. Business owners do not want to live to far from their businesses.

All brackets are showing a decrease in DoM.

Interactive chart below will continue to show current market information

Buyer or Seller Market? (MAI)

The Market Action Index – The MAI is continues to show a sellers market in all but the top quartile. The bottom quartile has shown a dramatic increase from the beginning of this year. It is up to 64 MAI. However, overall, the MAI has slipped just a little.

Interactive charts below will continue to show current market information

Bottom Line

Cottonwood is in the seller zone and but a buyer may be able to find some homes that the seller is willing to negotiate in the top quartile. Homes are not staying on the market long in the other quartiles.

Luxury Market of Sedona

One note: TheLuxury Markethas a price point of $860,000 for the top 10% in Sedona. This figure is based on the last 6 month’s of sold listings for all of Sedona. For Cottonwood, the top 10% of active listings starts in the mid to high $600,000 range. – This just gives you an idea of how the active market of Cottonwood compares to the sold market of Sedona.

The Sedona Luxury Real Estate Professionals which Sheri Sperry is a past-president uses the definition above for defining a luxury listing. The Luxury Market is measured using 86336, and 86351 zip codes.

MAI or Market Action Index answers the question “Hows the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller’s advantage. Below 30, conditions give the advantage to the buyer.

*Please Note: As new listings hit the market and homes close or fall off, the number of Sedona homes for sale will fluctuate daily based on the Multiple Listing Service (MLS) detail. The local MLS for this area is Sedona Verde Valley Association of Realtors (SVVAR)

ABOUT ME: “Many buyers and sellers are skeptical about salespeople. So am I! But, I am not a typical salesperson. I put myself in your shoes and help you make decisions based on how I would want to proceed if I were you. In other words, what steps would I take and what is right for you? How will this transaction be beneficial for you? How will it help you move forward with your goals? How can I make it as smooth and pleasant as possible? What is in your best interests as we move forward?

Let’s face it, you won’t really know that I am not a typical salesperson until you get to know me. I am confident you will feel at ease and comfortable knowing I can find solutions for you. If you don’t feel that way, please let me know. I want to be the best I can for you.”

A paid subscription service is provided by SellSedona.com and Altos Research to determine “How the active market is doing”. This Market Report is for single family residential only. No other housing segment is being analyzed. Analysis of Market Research and trends are based on opinion, experience, past & current statistics and other information. It is deemed reliable but not guaranteed.

The data relating to real estate for sale on this website comes in part from the MLS. Listing broker has attempted to offer accurate data, but is not guaranteed accurate. All information presented is deemed reliable but not guaranteed.

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